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24

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Hong Kong Monetary Authority money market operations

Cumulative

Time

$ million (hours)

change ($million)

Opening balance in the account

3,925

0930

-1,967

Closing balance in the account

2,785

1000

-1,967

Change attributable to:

1100

-1,967

Money market activity

-1,970

1200

-1,970

LAF today

+830

1500

-1,970

1600

-1,970

LAF rate 4.00% bid/6.00% offer TWI 124.4 *-0.1* 1.7.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon

Price Yield

1 week

5.14

2 years

2805

6.30

100.21 6.27

I month

5.09

3 years

3904

6.30

99.33

6.67

3 months

5.20

5 years

5106

7.23

100.23 7.30

6 months

5.42

7 years

7305

7.60

100.67 7.61

12 months 5.75

5 years M502

7.30

99.87 7.47

Total turnover of EF bills and notes - $17,080 million

Closed July 1, 1996

End

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